Discontinued Operations

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

3.  Discontinued Operations

The Company has accounted for the Real Estate Division as discontinued operations in 2013.

On February 26, 2013, the Company completed a short sale of its real estate rental property located in Santa Fe, New Mexico for a purchase price of $1.6 million since it did not relate to the core business of the Company.  As a result of the sale, the mortgage was satisfied and the Company recorded a gain of $1.0 million in discontinued operations in 2013.

The assets and liabilities associated with discontinued operations and the related results of operations have been reclassified in the Consolidated Financial Statements as discontinued operations.

The following table presents the financial results of the discontinued operations for the year ended December 31, 2013:

In thousands, except per share data	2013
Revenues	$	3
Cost of revenues		14
Gross profit (loss)		(11)
General and administrative expenses		-
Operating loss		(11)
Interest expense, net		(18)
Gain on sale of assets		1,052
Income from discontinued operations before income taxes		1,023
Income tax expense		(392)
Net income from discontinued operations		631
Income per share discontinued operations – basic and diluted	$	0.61

There were no remaining assets or liabilities to be reported as discontinued operations as of December 31, 2014 or 2013.